Nifty Future: Nifty Future will be range bound between 4850 & 4950 levels. If it manages to close above 4950, then only there will be strong indication for bulls.
Bank Nifty Future: The 9400 levels remains strong resistance for Bank Nifty, it has to close above this level. On the down-side Bank Nifty has support at 8900 levels.
Supports: 9300 / 9230 / 9135 / 9070
Resistances – 9370/ 9440 / 9540
Buy at Rs 1,755
Stop loss at Rs 1,743
Target Rs 1,782 – 1,800
Sell below Rs 391
Stop loss at Rs 395
Target Rs 387/383
Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.goodreturns.in. You can contact him at rajeshvravanappan (at) gmail (dot) com
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